My husband reps a steel company based in Ohio. Orders have been way down this year, and his customers say they’re slow, but hope things will pick up soon. Tariffs are having an extremely negative influence.
Too much uncertainty.
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Pretty amazing how much it fell beginning of the year!
Well, if you believe the liberal liars on (checks notes) uh, Wall Street…
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My company builds a lot of equipment out of stainless steel for poultry processing companies and we held pretty steady all year. Kind of helped us that a major competitor hasn’t been was well run lately after being bought out.
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A vote of “NO CONFIDENCE” for Donnie.
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Exactly.
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Clearly Hillary’s fault - Lock Her Up!
/s
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A chicken in every pot! Except for the quality and flavor and the price…
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Now THAT’s a good October Surprise!
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I think we can mark October 2018 as the end of the Obama Recovery and the beginning of the Trump Recession. Three simultaneous events over the past two weeks have contributed. 1) The deficit projections after the tax cut are astronomical, 2) The Fed is undeterred in raising interest rates, and the deficit projections are probably accelerating the tightening, and 3) Trump’s Trade War is hurting manufacturing of finished goods all over the country. Ford Motor Co.s costs for steel alone has increased over $1B. Trump can obfuscate the facts all he wants, but he was never God’s gift to business or economics in general, and his SIX bankruptcies prove it. Whether he likes it or not, he will OWN this one.
More importantly, this will the second time in 30 years in which a Republican President has come into office and wrecked the expansion of a Democratic Administration. The first time was George W. Bush’s wrecking ball to the Clinton economic recovery from George H.W, Bush, and now we have Donald J. Trump’s wrecking ball to the Obama economic recovery from George W. Bush. The GOP has NEVER acknowledged that Prof. Keynes was right and they collectively have no idea how to govern the economy for growth.
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Layoffs are starting. US Bank is laying off 700. There will be more to come. When profits are down and falling, workers will get the ax first as companies look to cut expenses. Profits so far are not so great for the 3rd quarter.
Speaking of exploding deficits, if they are rising fast in a booming economy, just think what they’ll do in a falling one.
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After today’s news, the new rally cry will likely be Bomb them up!
I hope all of the “hold your nose” wealthy Trump voters are satisfied - and the country gets to anticipate more right-wing violence to boot thanks to their greed! Indeed, so much winning.
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The question becomes, will the rethugs support a stimulus package in January if this drop continues? Will they believe in Keynes then?
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Nah - “Blow Them Up!” Definitely more euphonious…
(Who am I kidding - the sort of people who do this kind of crap couldn’t even spell “euphonius”, let alone pronounce it… 
)
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I think we need to consult Art Laffer on this point. If tax cuts increase tax revenue then it would seem that a falling economy should decrease deficits, and a falling economy coupled with the proposed further tax cut should quickly balance the budget.
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The only form of fiscal stimulus the GOPers understand is tax cuts and Trump is already on top of it with his announced “middle class tax cut.” The man is prescient.
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Did you notice the bomber couldn’t even get the return address name for “Debbie Wasserman Shultz” correct? Or that ex-CIA Brennan actually is a pundit at MSNBC, not CNN?
Not dealing with a mental giant here.
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The Fed? The Blue Wave? Those pesky kids and their dog?
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The Uni-bomber used to intentionally misspell words as well.
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